Investor's guide to condotels, condo hotels and fractionals
Seems simple doesn't it? Ask the right questions...determine if this will be a good investment.
For example, a critical question I should have asked was: "What kind of experience does the company managing the hotel have"?
If I had asked that question, I would have found out that this was the first Condo-Hotel managed by this particular company. That should have been enough to make me reconsider what I was getting into.
But there was more.....
I next decided to take a closer look at the rental management agreements provided by each Condo Hotel.
Now, the truth is, I hadn't paid a lot of attention to the details of the rental management agreement at first.After all, it was a "Legal Contract", and a lot of the hotel terms didn't really make sense to me. My regular lawyer was able to give me a pretty good overview, however, his area of expertise is not related to hotels.
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Boca Raton, FL
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